AOL, Inc. (NYSE:AOL)’s CEO Tim Armstrong reacted to the failed deal between Twenty-First Century Fox Inc (NASDAQ:FOXA) and Time Warner Inc (NYSE:TWX) in an interview with Scarlet Fu on Bloomberg’s In The Loop.
According to the AOL, Inc. (NYSE:AOL) boss, the amount of money Twenty-First Century Fox Inc (NASDAQ:FOXA) was willing to shell out to snag Time Warner Inc (NYSE:TWX) points to how much content is being valued more and more by businesses.
“I think that it points to one specific thing which is how valuable content and brands are going to be in the future. I think while everybody else is looking at whether or not that deal is going to come together, I think the thing that pointed out for me and our team at AOL is brands that are going to translate cross-screen [and] cross-device are going to be incredibly powerful in the future and you don’t see deals of that size going down with those type of forward-looking people involved in it unless there is tremendous value there. I think that is a very exciting signal for the future [in terms of where] the value of content and media is going,” he said.
However, the AOL, Inc. (NYSE:AOL) CEO was then asked by Fu whether Twenty-First Century Fox Inc (NASDAQ:FOXA) abandoning the deal with Time Warner Inc (NYSE:TWX) after its last bid was rejected points to the value of content stopping at some amount.
According to the AOL, Inc. (NYSE:AOL) chief, the falling out between Twenty-First Century Fox Inc (NASDAQ:FOXA) and Time Warner Inc (NYSE:TWX) is about the people involved in the failed negotiations knowing their businesses better than outsiders. This is to say that nobody on the outside really knows what happened between the two companies and why talks have broken down.
AOL, Inc. (NYSE:AOL) recently reported its second quarter 2014 performance. The CEO also talked to Fu about the future of his company in the interview embedded below.
Disclosure: None
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